ASSET DIVISION

Asset division is a fundamental component of Giving Tree Family Law's practice that involves the fair allocation of marital property and debts during a divorce or separation. This process ensures that both spouses receive an equitable share of the assets accumulated during the course of the marriage.

The goal of asset division is to achieve a fair distribution that considers various factors, including:

1. Property Type: Marital assets can encompass real estate, financial accounts, vehicles, personal possessions, and more.
2. Marriage Duration: The length of the marriage often influences how assets are divided. Longer marriages typically involve a more even distribution.
3. Contributions: Both financial and non-financial contributions to the marriage are taken into account when dividing assets.
4. Economic Circumstances: The earning capacity and financial needs of each spouse are evaluated to determine an equitable distribution.
5. Children: If there are children involved, their needs and living arrangements may impact the distribution of assets, especially when the primary caregiver's needs are considered.
6. Premarital and Separate Property: Assets owned by each spouse before the marriage or acquired through inheritance or gifts are often considered separate and not subject to division.

It's important to note that equitable distribution doesn't necessarily mean a 50-50 split; rather, it aims to achieve a fair outcome based on the specific circumstances of the marriage and the needs of both spouses.

Asset division can be a complex process, especially when substantial assets or unique considerations are involved. Mediation and negotiation are often encouraged as alternatives to contentious litigation as amicable agreements can lead to smoother asset division, reducing stress and legal costs for both parties. Our team of lawyers passionately advocate for our clients' interests, ensuring that assets are accurately identified, valued, and distributed according to applicable laws.